Disney stock pops on earnings, surpasses Netflix subscribers

Those who are looking for signs of a recession are advised not look at Disney’s earnings report or the performance of Disney plus, in particular. Disney plus is only 18 months old, a really incredible performer.

Disney stock surged by 73% in its theme park revenue year over year and smashed expectations for its subscriber numbers on the Disney plus platform. Disney is surpassing Netflix with regard to total subscribers. Disney has now over 221 million subscribers across ESPN, Hulu, and, of course, Disney plus. Now for the quarter, Disney+ jumped 14.4 million, which is just so significant considering where some of these competitors have landed.

Netflix lost one million subscribers; Peacock did not add any subscribers. So, it is interesting to see how each streaming service is telling a different story about the overall market. Disney has promised investors that streaming losses will begin to decline after this year and turn to profits by 2024.